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Apple, Alibaba may team up to launch Apple Pay in China.

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  • Apple, Alibaba may team up to launch Apple Pay in China.

    Apple CEO Tim Cook said Apple's new mobile payment system had over 1 million activations in the first three days after it became available, and is now more widely used than any competing payment system.
    "We're already No 1. We're more than the total of the other guys," the Apple CEO boasted on Monday during a tech industry conference, "and we've only been at it a week." Cook said Visa and MasterCard officials told Apple that the its mobile payment system was already seeing more use than similar "contactless" methods of paying for purchases.
    While Apple has partnered with major banks and large retail chains including Macy's, Walgreen and McDonald's, critics have noted that it is not accepted by a number of other large chains. Among them are the drugstore chains CVS Caremark and Rite Aid, which belong to a retail coalition working on a rival system.
    Cook also said he plans to talk with Jack Ma, executive chairman of China-based e-commerce giant Alibaba, later this week about a possible partnership, although he offered no details. Ma told the same audience earlier on Monday that he would be "very interested" in teaming with Apple to bring Apple Pay to China.

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